Halozyme Therapeutics (NASDAQ:HALO) Updates FY24 Earnings Guidance

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $4.00-$4.20 for the period, compared to the consensus earnings per share estimate of $4.14. The company issued revenue guidance of $970-$1.02 billion, compared to the consensus revenue estimate of $1.00 billion. Halozyme Therapeutics also updated its FY 2024 guidance to 4.000-4.200 EPS.

Halozyme Therapeutics Price Performance

Shares of HALO stock traded up $2.57 during mid-day trading on Wednesday, reaching $53.76. The stock had a trading volume of 2,668,262 shares, compared to its average volume of 1,711,198. Halozyme Therapeutics has a 12-month low of $33.15 and a 12-month high of $65.53. The company has a current ratio of 10.36, a quick ratio of 9.15 and a debt-to-equity ratio of 3.32. The business has a 50-day simple moving average of $50.10 and a 200 day simple moving average of $54.00. The company has a market cap of $6.84 billion, a P/E ratio of 17.80, a price-to-earnings-growth ratio of 0.44 and a beta of 1.24.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lowered Halozyme Therapeutics from an "overweight" rating to a "neutral" rating and upped their target price for the company from $52.00 to $57.00 in a research note on Thursday, September 19th. JMP Securities lifted their price objective on Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a "market outperform" rating in a research report on Friday, November 1st. Cowen reissued a "buy" rating on shares of Halozyme Therapeutics in a research note on Friday, October 18th. Piper Sandler lifted their price target on shares of Halozyme Therapeutics from $51.00 to $52.00 and gave the stock a "neutral" rating in a report on Monday, November 4th. Finally, Wells Fargo & Company lowered shares of Halozyme Therapeutics from an "overweight" rating to an "equal weight" rating and boosted their price objective for the company from $58.00 to $62.00 in a research report on Monday, October 7th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Halozyme Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $61.11.

Insiders Place Their Bets

In other Halozyme Therapeutics news, Director Jeffrey William Henderson sold 10,000 shares of the business's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $50.01, for a total transaction of $500,100.00. Following the completion of the sale, the director now owns 43,611 shares of the company's stock, valued at approximately $2,180,986.11. The trade was a 18.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.70% of the stock is currently owned by insiders.

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc, a biopharma technology platform company, researches, develops, and commercializes proprietary enzymes and devices in the United States, Switzerland, Belgium, Japan, and internationally. The company's products are based on the patented recombinant human hyaluronidase enzyme (rHuPH20) that enables delivery of injectable biologics, such as monoclonal antibodies and other therapeutic molecules, as well as small molecules and fluids.